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Updated over 4 years ago,
Closing Date Extension/Contract Cancellation
Scenario: This is NYC based. Contract is signed with an "on or about closing date on June 15th" meaning they have until July 15th to actually close. Due to COVID-19, seller originally was willing to close and pay rent. The amount we issued them to pay rent was too high and they didn't both to renegotiate and say they now just want an extension till 9/30. They need the extension because their new property is not ready. One of the clients is an elderly handicap male that needs elevator service. Please note, I am fine with extending, I am just kind of upset that they offered to rent and then turned it down and now I'm on the worse end of the stick.
A few questions:
-Would it be fair to request a compensation for the additional two months I have to now pay rent for?
-I am fine backing out of this contract as this situation has gotten me very frustrated. I signed for this house back in March so I've been waiting for quite some time now. My attorney told me the seller's attorney can claim they did not default and go to court and perhaps take my deposit. Is this something that's possible? I can't find anything like this on the web.